Intel Foundry layoffs could impact 'more than 10,000' factory workers — one fifth of employees affected by 'enormous cutback'

Intel.

The first reports about Intel's plans to cut workforce in its manufacturing division starting mid-July emerged last Friday. However, the report lacked specifics, which appear to be quite dramatic as the chipmaker reportedly plans to eliminate between 15% to 20% of its Intel Foundry personnel, which will affect over 8,170-10,890 people globally, reports OregonLive.

Naga Chandrasekaran, the head of Intel Foundry, informed staff that the layoffs are necessary to address cost-related challenges and the company's financial position. He stated that reductions would be guided by business priorities, individual evaluations, and decisions around which projects to continue funding.